Sprint sums it well: “The labor cost reductions are the latest action in the company’s efforts to make its cost structure more competitive in the industry and to remain financially secure in a challenging economic environment.”

You can read that like this: “We are losing subscribers so fast that we no longer need the same number of people to service them! Therefore, you are all let go. Oh, and we wish that we carried the iPhone. Not this Pre thing.”

TheNextWeb would like to extend its condolences to the employees leaving the company in the next month and a half.

On a more positive note, Sprint will be providing “severance benefits and outplacement services for impacted employees,” that will cost “approximately $60 million to $80 million.” That works out to around 3,000 per released employee.